Murabaha

Sale of commodities and assets at cost plus an agreed profit whereby the seller informs the purchaser of the cost at which he purchases the product and also discloses the amount of profit. Under murabaha financing, the customer is usually made agent for the procurement of goods he requires and upon procurement the goods are sold to the customer on deferred payment basis. The customer makes payment for the goods as per pre-agreed schedule where SUMMIT BANK offers this
product to customer in very efficient manner.